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Dec 31, 2012
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>> reporter: if the deal finalized, and if passes congress, two big ifs, it would extend tax cuts for all workers under $400,000, prevent a big hike on estates under $5 million and extend unemployment benefits set to expire tomorrow for some 2 million people. so, the scramble continues tonight. congressional leaders trying to get to a deal that would pass both the house and the senate sometime over the next 24 hours or so, david. >> jon, stick with us here. i want to show the viewers at home that beautiful red and white crystal ball prepared to come down in times square changes colors as we look at it. the bottom line is, when that ball drops tonight, every american's taxes going up? >> reporter: that is exactly right. they are going to try to come back and fix it, but as of midnight tonight, everybody's taxes go up. >> all right, jon karl on the watch there at the white house. jon, thanks to you. >>> we're going to turn to the other developing story tonight, the ongoing health scare for hillary clinton. she remains in a new york hospital tonight, her daughter chelsea by her side toda
>> reporter: if the deal finalized, and if passes congress, two big ifs, it would extend tax cuts for all workers under $400,000, prevent a big hike on estates under $5 million and extend unemployment benefits set to expire tomorrow for some 2 million people. so, the scramble continues tonight. congressional leaders trying to get to a deal that would pass both the house and the senate sometime over the next 24 hours or so, david. >> jon, stick with us here. i want to show the...
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Dec 31, 2012
12/12
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how likely is it that congress, the senate and house side will pass this? >> i think that there will be liberals who will reject this deal, whenever the deal finally emerges. some liberal democrats in the senate, maybe senator tom harkin, for example. some conservatives will reject it because the top 2% see those earning more than $450,000 see their taxes go up. they might reject it. i think there will be a significant bipartisan majority in the senate that will pass it. if the president comes out and says he can live with this, and this is a compromise but he's not getting 100% of what he wants, the president says if the republican and the democratic leaders in the senate, harry reid and mitch mcconnell, if they say that, there will be a significant bipartisan majority in the senate. the house speaker john boehner suggested at the white house meeting the other day that whatever passes the senate he would allow to come up for an up or down vote in the house of representatives. if he allows that to happen and the democrats are on board, there will be a need
how likely is it that congress, the senate and house side will pass this? >> i think that there will be liberals who will reject this deal, whenever the deal finally emerges. some liberal democrats in the senate, maybe senator tom harkin, for example. some conservatives will reject it because the top 2% see those earning more than $450,000 see their taxes go up. they might reject it. i think there will be a significant bipartisan majority in the senate that will pass it. if the president...
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measures retroactively and at the end of the day they will decide something but congress seems to love the drama of the whole cliff situation they have all the attention in the world and literally the whole world the media of course help them hype it up with the countdown they started two months ago and while politicians here are enjoying all that attention turning last minute scoring political points the hype around the scary word cliff is already hurting the economy experts say it's affecting business and consumer confidence if wall street is any indicator stocks have been falling for a fifth straight day on friday they called it a fiscal cliff slide other markets are reaching signals of certainty coming from the u.s. oil prices have soared in the asian markets ahead of a last minute effort in washington to reach a deal on fiscal cliff that's what you read in the news so this whole charade in washington could have implications on many levels and the fiscal cliff which some call a product of u.s. lawmakers imagination could become a self-fulfilling prophecy. trying to find your way th
measures retroactively and at the end of the day they will decide something but congress seems to love the drama of the whole cliff situation they have all the attention in the world and literally the whole world the media of course help them hype it up with the countdown they started two months ago and while politicians here are enjoying all that attention turning last minute scoring political points the hype around the scary word cliff is already hurting the economy experts say it's affecting...
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Dec 31, 2012
12/12
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FOXNEWSW
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i am optimistic we can reach agreement and reach across the aisle and get something passed for the american people not because of political party but because it's the right thing to do. >> the american people have an 18 percent approval rating of congress, is it any surprise here we are a little more than 24-hours before we go over this cliff p and this deal can't get done. i mean, congressman langford, let me go to you. what is the hold up here. you guys have agreed apparently in the house. >> we have actually. we have see questionsstration in may we have waited on the senate since may. obviously well after the election. this is something that could have been done last summer. this is not some big surprise. that's the frustration. we are here on the house side waiting for the senate response waiting to come back. we were told it would be back by today. typical process they send an anchor back and we have a compromise between the two. >> to each of you the same question. is the problem the level at which we are going to allow the bush tax cuts to be required or is the issue about identifyin
i am optimistic we can reach agreement and reach across the aisle and get something passed for the american people not because of political party but because it's the right thing to do. >> the american people have an 18 percent approval rating of congress, is it any surprise here we are a little more than 24-hours before we go over this cliff p and this deal can't get done. i mean, congressman langford, let me go to you. what is the hold up here. you guys have agreed apparently in the...
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Dec 31, 2012
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when they controlled congress and the white house. and it is that difference, mr. speaker, that caused american voters to give republicans in the 2010 and 2012 elections their largest number of house of representatives victories in more than six decades. mr. speaker, fighting democrat tax increases, now that's a mandate. the speaker pro tempore: the gentleman yields back. the chair recognizes the gentleman from missouri, mr. carnahan, for five minutes. mr. carnahan: thank you, mr. speaker. on this last day of the year and one of the last days of this 112th congress, we are awaiting a fiscal keel that will strengthen the fiscal health of this country. i want to take a few moments to reflect on my service here in the house of representatives and personally thank many who helped me get here and do the work of the people that i represent and love in the state of missouri. first, mr. speaker, deborah carnahan, bhife but also an accomplished attorney, former state and federal prosecutor. she's been the rock of our family and has been with m
when they controlled congress and the white house. and it is that difference, mr. speaker, that caused american voters to give republicans in the 2010 and 2012 elections their largest number of house of representatives victories in more than six decades. mr. speaker, fighting democrat tax increases, now that's a mandate. the speaker pro tempore: the gentleman yields back. the chair recognizes the gentleman from missouri, mr. carnahan, for five minutes. mr. carnahan: thank you, mr. speaker. on...